New Source Energy Partners Announces Pricing of Its Upsized Public Offering of 3,000,000 Common Units

New Source Energy Partners L.P., a Delaware limited partnership (NYSE:NSLP) (the “Partnership” or “New Source”), today announced that it has priced its public offering of 3,000,000 common units representing limited partner interests. New Source has also granted the underwriters a 30-day option to purchase up to 450,000 additional common units. The offering size was increased to 3,000,000 common units from 2,800,000 common units. The common units were offered to the public at $23.25 per unit. The offering is expected to settle and close on April 29, 2014, subject to customary closing conditions. New Source expects to use all of the net proceeds from the offering to repay a portion of the indebtedness outstanding under its revolving credit facility.

Baird, Stifel, Oppenheimer & Co. and BMO Capital Markets are serving as joint book-running managers for the offering. The offering will be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from:

An electronic copy of the prospectus and prospectus supplement is available from the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offer is being made only through the prospectus as supplemented, which is part of a shelf registration statement that became effective on April 21, 2014.

About New Source Energy Partners L.P.

New Source Energy Partners L.P. is an independent energy partnership. The Partnership is actively engaged in the development and production of its onshore oil and liquids-rich portfolio that extends across conventional resource reservoirs in east-central Oklahoma. In addition, the Partnership is engaged in oilfield services that specialize in increasing efficiencies and safety in drilling and completion processes through its wholly owned subsidiary, MCE LP.

Forward-Looking Statements

This news release contains “forward-looking statements” which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially, including but not limited to the inability to complete this common units offering and to use the net proceeds as indicated in this news release. For a full discussion of these risks and uncertainties, please refer to the “Risk Factors” section of New Source’s Annual Report on Form 10-K for the year ended December 31, 2013. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.